Workers pass the bull in New York’s Financial District.(David Karp/AP)

Bullish magazine cover, bullish market?

DAVID BERMAN

— The Globe and Mail

Published Monday, Sep. 23, 2013 2:30PM EDT

Last updated Monday, Sep. 23, 2013 2:30PM EDT

Magazine covers aren’t what they used to be. They once carried some weight among contrarian investors looking for evidence that the stock market was either primed for a rally (thanks to a bearish cover) or a correction (a bullish cover). Now? Covers aren’t providing a clear signal.

That’s the conclusion from Birinyi Associates after they looked at issues of Time magazine with pictures of bulls on the cover. They found nine of them – not including the most recent cover story (and picture), “How Wall Street Won.”